EXHIBIT 4.150
XXXX XXXXXXX AMENDMENT AGREEMENT
This Amendment Agreement dated for reference the 15th day of December 2008
BETWEEN:
XXXXXXXXX XXXX (as to 60%)
000 Xxxx Xxxxxx
Xxxxxxx, Xxxxxxx X0X 0X0
Tel: (000) 000-0000
XXXXX XXXXXXX (as to 40%)
000 XxXxxxxxx Xxxxx
Xxxxxxx, Xxxxxxx X0X 0X0
Tel: (000) 000-0000
(hereinafter referred to collectively as the "Optionors")
OF THE FIRST PART
AND:
XXXXXX GOLD CORP.
#000 - 000 Xxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx X0X 0X0
(hereinafter referred to as the "Optionee")
OF THE SECOND PART
WHEREAS Xxxxxx and the Optionors entered into an option agreement dated for
reference the 7th day of December 2007 (the "Xxxx Xxxxxxx Agreement") and the
parties wish to amend the Xxxx Xxxxxxx Agreement.
NOW THEREFORE in consideration of the premises and the mutual covenants and
agreements herein contained, the parties agree as follows:
1. Sections 3 and 4 to the Xxxx Xxxxxxx Agreement be deleted in their
entirety and replaced with Sections 3 and 4 as written below:
"3. TERMS OF THE OPTION
In order to maintain the Option in good standing and earn a
100% right, title and undivided interest in and to the
Property, the Optionee, subject to paragraph 2, shall:
(a) pay to the Optionors $5,000 upon receipt of
regulatory approval (paid);
(b) pay to the Optionors a further $5,000 on or before
January 4, 2007 (paid);
(c) pay to the Optionors a further $10,000 on or before
January 4, 2008 (paid);
(d) pay to the Optionors a further $7,500 on or before
January 4, 2009;
(e) issue to the Optionors 25,000 common shares of the
Optionee upon receipt of regulatory approval
(issued);
(f) issue to the Optionors a further 25,000 common shares
of the Optionee on or before January 4, 2008
(issued); and
(g) issue to the Optionors a further 50,000 common shares
of the Optionee on or before January 4, 2008
(issued); and
(h) issue to the Optionors a further 75,000 common shares
of the Optionee on or before January 4, 2009.
Exploration expenditure requirements will include only those
expenditures that are required annually by the Ministry of Northern
Development & Mines to keep the property claims identified in Schedule
A to the Xxxx Xxxxxxx Agreement in good standing.
4. EXERCISE OF THE OPTION
If the Optionee has paid $27,500 and issued 175,000 common shares to
the Optionors, the Optionee shall be deemed to have exercised the
Option and will have acquired an undivided 100% right, title and
interest in and to the Property, subject only to the Royalty Interest
reserved to the Optionors."
2. In all other respects the terms of the Xxxx Xxxxxxx Agreement remain as
written.
3. Time shall be of the essence of this Amendment Agreement.
4. The parties hereto covenant and agree to execute and deliver all such
further documents as may be required to carry out the full intent and
meaning of this Amendment Agreement and to effect the transactions
contemplated hereby.
5. This Amendment Agreement shall be governed by and interpreted in
accordance with the laws of the Province of Ontario.
6. This Amendment Agreement together with the Xxxx Xxxxxxx Agreement
constitute the entire agreement between the parties and supersedes all
previous understandings, communications, representations and agreements
between the parties with respect to the subject matter of this
Amendment Agreement.
7. This Amendment Agreement will enure to the benefit of and be binding
upon the parties hereto and their respective successors and permitted
assigns.
IN WITNESS WHEREOF the parties hereto have executed these presents as of the day
and year first above written.
XXXXXX GOLD CORP. )
)
)
Per: /S/ XXXX XXXXXXXX )
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Xxxx Xxxxxxxx, Director )
SIGNED and DELIVERED by )
XXXXXXXXX XXXX in the presence of: )
)
/S/ XXXXX XXXXXXX )
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Witness Signature )
)
XXXXX XXXXXXX )
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Name (printed) ) /S/ XXXXXXXXX XXXX
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) XXXXXXXXX XXXX
000 XXXXXXXXX XX., XXXXXXX, XX, X0X 0X0 )
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Address )
SIGNED and DELIVERED by )
XXXXX XXXXXXX in the presence of: )
)
/S/ X.X. XXXX )
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Witness Signature )
)
XXXXXXXXX XXXX )
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Name (printed) ) /S/ XXXXX XXXXXXX
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) XXXXX XXXXXXX
000 XXXX XXX., XXXXXXX, XX, X0X 0X0 )
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Address )
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